Crypto market may face further correction after $1.6 billion in liquidations

Crypto markets may face another correction rather than rise in a straight line, CryptoQuant contributor Darkfost warned, citing substantial liquidity below current prices that could draw markets lower. About $1.6 billion in positions were forcibly liquidated over 24 hours, including $866 million in longs and $797 million in shorts, while an earlier Coinglass snapshot recorded approximately $113 million in hourly liquidations and about $1.49 billion over 24 hours. The volatility followed an Aug. 22 flash crash, and B.TOP founder Jiang Zhuoer warned that cross-margin leverage can spread losses across an account, recommending isolated margin for leveraged altcoin positions.

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